Member Info for shychap

Indeed, Toyin. If it were me, I know that I wouldn't be buying millions of shares into an investigation and suspension unless I had a line to the chairman and was given a steer on the scope of the problem.

But, for the avoidance of doubt, I'm not MD.

Excellent trading update…but will it move the share price? Will anything ever move the share price?

There is no "last day" – only a hope that the investigation would be concluded by the end of April. News will be released immediately thereafter, and there's no guarantee that will happen in April so best not to invent stuff.

FWIW, another stock in my portfolio is currently suspended (I can pick 'em) pending an audit review of its y/e accounts and they announced on March 26 that the suspension – which does not relate to any wrongdoing or suspected fraud – would last into May: https://www.lse.co.uk/rns/HERC/delay-in-final-results-and-temporary-suspension-ui9eis9hecw5osq.html

Nothing new, Whackery, but I don't pester him as there are other things to talk about here in the Shires and I know he doesn't like being quoted.

Indeed Toyin. But my rulebook says that all AIM investors ought to assume that everything said by a company outside an RNS is likely to be a lie or misleading; and that every RNS needs to be scrutinised for possible alternative meanings and for unexplained omissions. In short, it's healthy to be a sceptic/devil's advocate.

And if in any doubt about the meaning of anything, ask the company to clarify. If you still think you are being misled, sell up and move on.

I suspect that those PIs who lose most are the most trusting, most passive investors.

Bubs49, AIM is no place for risk-averse investors, especially longs. My strategy has always been to pick carefully and be philosophical when investments go wrong because there is usually at least one stellar performer to compensate for several dogs. And we will shortly find out if SBTX can become a stellar performer or not. Imho, it continues to be better placed to deliver than most AIM stocks.

Rebarm, if Croda were going to pull the plug, why would their chairman showcase it in their annual report only two short months ago as a shining illustration of their "ability to deliver products that matter"?

She didn't have to mention it at all, and certainly wouldn't have done if they were planning to pull the plug on it.

Patience is a virgin, as my son used to say. They are still only now launching Zenakine in some key regions.

Croda's Beauty Actives sales were up 10% in Q1.

https://www.lse.co.uk/rns/CRDA/first-quarter-2026-sales-in-line-with-expectations-0de1qy3cmd277zi.html

21/4/26 RNS:

"Since the Group's AGM trading update on 25 March, macro-uncertainty has increased, with the ongoing conflict in the Middle East contributing to the prospect of a more prolonged higher interest rate environment, renewed cost pressures and a deterioration in consumer confidence.

Open market reservations have continued in line with the improved levels seen since mid-January. Trading remains positive in the Midlands, South-West and Eastern divisions, with continued softness in the South division. Overall, the Group is not currently experiencing materially higher levels of discounting and has not seen an increase in the use of incentives or cancellations, but there has been a reduction in new enquiries and visitor levels."

DB's existing loan to SBTX was unsecured and it wouldn't be a surprise if the Ashman debacle has rattled him enough to formalise security for it. It doesn't necessarily mean that he is about to, or willing to, lend the company more money, although that could be the case. If it were to happen, I imagine that most shareholders would prefer a secured loan from a cornerstone investor instead of further dilution.

New 5% shareholder, Passerelle appears to be an investing vehicle owned by Katherine Jolly. Not much else is known. But the transaction hasn't disturbed the SP so presumably an off-market deal with an existing major shareholder albeit no other TR-1 is yet in sight.

Well spotted Toyin. Wish I could speak the lingo: they all sound the same to me.

I think selling when cash required was the old strategy. Based on his latest RNS, the new strategy, as I read it, is to switch OPTI out of share ownership altogether.

Nothing in the Articles, and may be a different story if he wants to dump £6m worth of shares, ie well over half the assets.

Fair 'nuff, mol42. Do the Articles allow it?

https://sprintlaw.co.uk/articles/can-directors-sell-company-assets-without-shareholder-approval/

FWIW, I got the strong impression from today's OPTI trading update that SOH will soon be selling the company's remaining stake in both SBTX and PBX. His exact words, under the heading "Post Period" were:

"Strategic shift from building a broad business with holdings in PBX and SBTX and products in multiple territories to focus on high growth areas and commercial sustainability."

Presumably he will need shareholder approval if that is his plan since those shares represent a huge chunk of OPTI's assets.

Thanks Toyin. At first I thought we were nominated in the wrong category…and then I realised we were guaranteed a podium finish.

Indeed - that's another 4m he's bought in just over a fortnight.

He still isn't an insider so he too has faith and cojones and deserves to be rewarded for his unwavering support.

Chapeau to him – and thanks, for without him we would all be a lot worse off.

Just our luck that the FTSE is surging ahead today.

"Possible fraud" were my words based on a) Ashman's instant departure and b) the certain knowledge that the forensic accountants would be looking for all and any misdemeanours, including fraud, since that is their job.

It is also my assessment (shared by others) that one or more other directors may be required to leave if they have been complicit in the misstatement of accounts.

My apologies if my OP gave the false impression that these words had been included in an RNS.